loanLoan
Capital at risk
36
Months
10.0%
Director
guaranteed
Capital at risk
Director guaranteed
Amount
£
You make
£
Minimum investment is £100
Total return
£
Monthly repayments
£

Cubana are a restaurant-bar group known for three main things: fresh, sustainable food, iconic cocktails, and an atmosphere that transports you to the vibrant streets of Cuba. They are the home of the Mojito, delicious street-style food, with their own in-house bakery. Both Waterloo and Smithfield locations are a celebration of all things Latin American, hosting live bands and salsa nights. Having raised with Crowd2Fund before, Cubana are a great success story, now raising to develop their locations further by renovating their rooftop into a terrace area.

Bringing Cuban spirit to London

Welcome to Cubana, delivering an authentic Latin American experience in London. We take inspiration from the lively mix of Spanish, African, Caribbean, and French influences to create a range of dishes, such as ropa vieja, pollo criollo, picadillo, and of course the traditional Cuban sandwich. We also have an in-house bakery, where we produce handmade bread and pastries, and roast top-quality coffee beans. Get the party started with our fresh cocktails, including the iconic Mojito we bought to the UK back in the 90s and have made, to date, over 2 million of them!

We were one of the first restaurants to adopt fully sustainable policies. Our produce is 100% free-range and we've been awarded the Good Egg Award and Good Sow Commendation in 2015 for compassion in world farming; our fish is MSC-certified as well. In addition to this, we now have a zero plastic policy across our group.

Our two locations, Waterloo and Smithfield, emulate the soul of Cuba, with live music and salsa clubs hosted on Fridays and Saturdays. We take pride in our vibrant, colourful decor which gives the place a fun atmosphere and has led to us being used as a location for several film and commercial photo shoots. The next step for Cubana is to develop our space further by renovating our Waterloo rooftop into a terrace bar. Therefore, we will use the funds raised in this campaign to facilitate this, ready for the uptake of sales in the spring and summer time.

X

Business keeps the raised amount even if target is not met.
Loan - product type
Tranche (1 of 2)
£ 106k
Raised
£ 84k
Investors
383
Estimated close date
Funded 2 months ago in 29 days

Where will the funds go?

Creation of new roof-terrace bar at Waterloo
£100,000
Working capital
£6,400

Key people

Phillip Oppenheim
Director

Got a question for the business?

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A. Affirmative - we have planning and also a revised consent which improves the layout - we are currently speccing canopies, outside fireplaces and other aspects and we hope to begin work in March - please let me know if you would like any more details - Phillip

A. Hi Roger - we are repaying the previous loan on schedule - Phillip

A. Hi Roger - £405,000 - the value of the assets very comfortably exceeds this total - we have just signed a new 20 year lease at Waterloo and the new roof terrace will considerably enhance the value - Phillip

A. Hi Alex - we have our final 2018 management accounts - key numbers:
sales up 5% to £2.125m
Operating profit up 9% to £351,000
Gross margins up 2%
Labour costs up 1.9%
Operating costs stable
Please note these are unaudited management accounts produced by our accountants and they and exclude head office costs and depreciation etc -
key challenges are to get gross margins up by another 2% this year and to bear down on labour costs - let me know if you need any more info
Phillip

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Business brand

London, UK

"Bringing Cuban spirit to London"

Incorporated
21 years, 5 months
Equifax score
71 / 100
Equifax Grading
powered by Equifax
Good score
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